Wednesday, October 7, 2015

U.S. releases some TPP meat-industry details

The United States Department of Agriculture’s Foreign Agricultural Service has released a series of interactive fact sheets illustrating how the Trans-Pacific Partnership (TPP) agreement can boost the U.S. agriculture industry.

They are designed to show how each state and individual commodities may be affected, reports Meatingplace Magazine

Japan's beef tariff, now as high as 50 percent, will be reduced to nine percent. Japan will eliminate duties on 75 percent of tariff lines, including processed beef products. Vietnam will eliminate tariffs and Malaysia will lock tariffs in at zero percent.

Japan will eliminate duties on nearly 80 percent of tariff lines related to pork, including processed pork.

Remaining tariffs will be cut and the "Gate Price" system significantly altered. The “gate price” policy establishes tariffs designed to bring meat up to set prices.

Nearly all Malaysian tariffs will be locked in at zero percent and Vietnam will eliminate tariffs.